Coinbase customers can now transfer funds to any user with a Coinbase account around the world.
American major cryptocurrency exchange Coinbase has expanded into cross-border payments. Coinbase revealed the development in a recent announcement.
Coinbase customers can now transfer funds to any user with a Coinbase account around the world using Ripple (XRP) and the exchange’s stablecoin USDCoin (USDC) with no fee. The development reportedly enables users to send and receive money instantly, as well as convert them into local currency.
March saw several new developments at Coinbase, including a service linking user accounts on its main platform to its Coinbase Wallet app, and a new market structure for the exchange’s professional trading platform, Coinbase Pro, which aims to increase liquidity, enhance price discovery and ensure smoother price movements.
Coinbase added support for USDC last October, making it the first stablecoin to trade on the platform. The coin is purportedly 100 percent collateralized with U.S. dollars, and was launched last fall by CENTRE, an affiliate of crypto payments firm Circle.
Earlier this month, India’s Federal Bank, a commercial private bank, began using Ripple’s network for cross-border remittances. The partnership with Ripple came as part of a wider initiative to apply new technologies to the bank’s remittances network. Also on March 28, Federal Bank launched two remittance platforms in the United Arab Emirates for making payments to India.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.